Concerns certain actions brought under "Truth-in-Consumer Contract, Warranty and Notice Act."

This bill (S 525) amends New Jersey's Truth-in-Consumer Contract, Warranty and Notice Act (TCCWNA) to change how consumers can sue businesses for violations. It requires that class-action lawsuits under TCCWNA must involve an actual financial loss (not just technical violations), and for claims of $250 or less, consumers must first send a written reimbursement request via certified mail (and regular mail) to the business, waiting 35 days before suing. Businesses can avoid paying attorney fees in counterclaims by putting the disputed amount in escrow if they dispute the loss. The bill directly affects consumers seeking to file TCCWNA lawsuits and the businesses they sue.